Wait - so unemployment is bad. Unless enough people have jobs, then it's good?
I'm not going to claim I understand economics, what sort of voodoo nonsense is this?
I'm not going to claim I understand economics, what sort of voodoo nonsense is this?
I'm not sure how much of this was avoidable but it is the current state of the US economy.
We're probably pushing over the edge of "full employment" right now and backing off a little bit will be a net win for the country with a small amount of losers. https://en.wikipedia.org/wiki/Full_employment
Yes.
The ideal amount of unemployment isn't zero. People quit jobs and move to new cities (sometimes following their spouse who gets a new job) and then look for work there. People upgrade their skills. There are a lot of reasons people might temporarily be unemployed. If they don't have the freedom to do those things, that's bad.
If the unemployment rate is zero, that also means that there are jobs that literally cannot be filled and are not being done. That's bad too.
Obviously, an unemployment rate of 20% is also bad.
Well... I'd argue that depends on which jobs it is that goes unfilled. I'm sure many people here have worked jobs that would be better off not done.
Lack of water can kill, too much water can kill. This isn't voodoo nonsense.
Is that surprising? eg.
"Wait - so under-eating is bad. Unless you're overweight, then it's good?"
edit: to put it another way - (extending your metaphor) who is doing the eating of us normal workers? Why am I someone's food?
The idea is that in the specific current situation of inflation disaster, measures required to tame inflation maybe required.
Like a infection, first line of defense is antibiotics, but if you wind up in a bad situation, you may need to take a more harmful response like amputation.
I'm guessing its not the folks who could afford a stint unemployed that will be asked to do vital economic functions. I wonder how many people y'all are going to kill for your inflation woes.
I get it though, all these people who just got jobs and who just moved to better jobs are way too uppity and need to be put down. Heaven forbid they do anything that isn't worry about paying for a slightly comfortable life. Good for you, helping to put those hard working folks in their place - they don't need anything other than stress and worry and work.
Someone with a million dollar mortgage and inflation proof investments is probably cheering on inflation.
A family struggling to buy food and shoes for their children suffers from inflation.
I dont think anyone is trying to argue that unemployment is a good thing in an absolute sense.
That inflation is mostly caused by oil prices, and no amount of extra work by people will make oil prices drop ... This is why we've had recessions before, this is why it's happening now ... is something the central banks or government cannot influence, and therefore this "cannot" be the cause (granted, this is true but doesn't provide a solution, so from a utilitarian perspective one might agree with this).
The FED is making things worse, but hasn't yet been sufficiently scared into turning things around. The stock market is only ~20% down, and they usually turn things around at about a 35% drop. So we're already past the halfway point, and FANGs (except FB/META) are holding out quite well, so they seem to be safe harbors.